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Us 15, Sandy 14, Chris Christie 14, Romney 13, New York 11, Neil 10, Nicole 6, Obama 6, New Jersey 6, Chicago 6, Charlie 6, Duncan Niederauer 5, Terry Duffy 5, Benghazi 5, Mike Reagan 4, S&p 4, United States 4, Lowe 4, Robert Gray 4, Michigan 4,
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  FOX Business    Varney Company    News/Business.  
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    October 31, 2012
    9:20 - 11:00am EDT  

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in the end, gasoline my end up trading lower because people are staying in their home and demand might be less. neil: yeah, it could be sort of mixed world for quite a while to come. in the meantime, td ameritrade, will it make the money off folks average investors as well. whether they're going to get in on the fund today. and joining us with td ameritrade ceo, fred. you have as good a phones on the average investor as anyone. what do you think they do today? >> well, i think going into the open here, our order bot, the open orders that we have to execute on the open right away are basically pretty light. have been light for the last two days and light this morning, but i do think once the markets open, an active trader will it dually go into the market, but they'll watch to see what happens with the opening first. but we expect it to be a relatively smooth opening this morning. >> now, were any of them sort of
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getting itchy or trigger happy the last couple of days, not being able to trade, not being able to pounce on news or developments, what? >> well, they were able to trade on our platform, anyway, futures and foreign exchange, you know, to some degree. so the real people that wanted to trade could trade in certain things, they may not have been able to trade what they wanted. our call volumes were relatively light, that could be because of the news. it could also be because of the people impacted by the storm, represent about a third of our trading volumes. so, they basically have been preoccupied with their safety of themselves and their family and friends for the last couple days. neil: you know, as a group collectively, we've heard that a lot of individual investors are sort of pulling things back a little bit, you know, maybe not quite as optimistic about where the economy is at and out of the market. and so, their own individual participation has been declining. and i don't know if that's
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necessarily telegraphed some problems down the road, but what do you think? >> well, i think we're living through a lot of uncertainty in the market, whether it's europe, whether it's the direction, the direction of the u.s. economy and the federal debt. and all of those things are certainly weighing on the retail investor's mind and definitely they're been moving to conservative position, as have been this, they've been protecting liquidity and building their positions and fairly risk averse, now, hopefully i'm cautiously optimistic on the u.s. economy that once they get through this election, regardless of who wins, our leaders in washington come together and develop a plan to deal with our fiscal challenges. >> well, springs eternal, we'll see, i was saying teddy, teddy weisberg, teddy was here the last time we had a two day disruption in 1888 and now, must be living history all over
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again. teddy. how do you think it's going today? >> well, i think it's going to be a normal day, neil. and you know, perhaps a little pentup demand and we've had to sit at home for two days and think about what we're going to do. you know, it's the last day of the month so that makes it a little unusual and the last day for the fiscal year for a lot of of mutual funds and institutions so they're going to be closing their books today. normally this would be the last couple of days of october are always busy particularly the last day, and perhaps a little more buy in today because we've been out of business for a couple of days, but i don't expect anything other than increased volumes and anything unusual in terms of market movement one way or the other. >> everyone seems to think quickly it's going to have a hit on the economy and maybe take a half a percentage point out of the gdp this quarter. >> listen, there's no question that the expenses are going to be enormous, but we've been through catastrophic events before, and katrina and others, and life, you know, as
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disastrous as it is and upsetting as it is, you know, we move beyond it. you know, these are acts of nature not acts of man necessarily, and so we'll deal with, we'll deal with the bumps and move on. and in terms of the overall economy, i'm sure it's going to take some kind of bump, but i think the overall economy has got more issues, unfortunately, than the effects of hurricane sandy. neil: and always a pleasure through crisis alike, we're about six minutes to the opening bell and keep in mind this is halloween, there's been a move afoot in the garden state, new jersey, chris christie, we already knew he was a very power governor and he wants to move it to november 3rd, so the kids can trick-or-treat on november 3 and my sons i know are watching, guys, you know the rules, the candy, you know, some for you, some for me. we'll have more.
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as it's known, trading to start very soon and mayor bloomberg is going to have the honor of ringing that opening bell. but it could be bumpy and not so much because whether they're up to speed, but whether technically they can handle this. i got a little alarmed, and charlie gasparino is joining us and talking about the lottery for use of phones and cell phones could be bumpy. >> could be bumpy. the positive thing, and from ameritrade, the retail ahead of the market you're not going to get massive amounts of retail selling, they're all in gold and treasury bonds, but you do have professional investors involved. i will say this, the fact is this just shows you how unprepared they were for this. i mean, they're talking about a lottery for the specialists, i wonder how much the specialists and floor guys matter. they were not the reason that the new york stock exchange did not open. it was some sort of problem with the big brokerage firms and big banks dealing with the
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archipelago system dealing with this. neil: and getting through this, 20 seconds away from the big board and the top is mayor bloomberg. >> people are back in new york city and i think that everything is fine. . [bell ringing] everything is bumpy, but find. neil: trading kicking off once the bell finishes the trading has started and it's started after two days of disruption by mother nature. first time we've seen it since 1888. and 9/11 we had a disruption and that of course was a terrorist event and we had a huge selloff because that was just pent up selling that was built in. >> think about that, that was a macro event. a terrorist attack. >> absolutely. attacks the economy and yes, some economic impact, but this was a storm and it's a deadly storm and people, there were lives lost and it's going to have a negative economic impact and it's going to be positive here. home builders and point out, they're going up and a rebuilding effort where you get
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the keynesian sort of spurt of growth because you're going to have government spending and you're going to have people spending to rebuild. so, that counter acts the negative gdp growth, that the cost of this. but i will tell you this, this is not a terrorist attack, what is scary about this, is that when you, you can have something very serious like that, and the markets could be shut down for a lot longer and that will be a problem. and don't discount the fact when markets are shut down for a long time, people question the economy. and businesses cannot get financing, stocks don't trade and you don't know the value of corporate america. neil: you sound like a callus individual. >> there's other-- >> there are thousands of lives could have been in danger and here you are pursuing the almighty dollar. >> i did not say put people's lives in danger, i said have a contingency plan. neil: but you need human beings in some way, shape or form in that area, yes or no? >> no. neil: liar, liar, pants on fire. look, whatever helps capitalism.
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>> no offense, the floor traders are immaterial to me. and shut down-- >> i want to get back, but i do want to get to nicole, following general motors right now. and that's coming out with-- and still they had earnings, but better than we thought they would be, nicole? >> all right. that's up a dollar and we've kicked off trading so far, i haven't heard any screams or seen any running, but we are underway and general motors up $1. neil: okay. thank you very much, nicole, i apologize for that. >> how about ford, i've got to give you ford. neil: go ahead, i apologize. >> and i want to check in on the other u.s. auto make eup almost 4% and neil came out with numbers and actually moved ahead with earnings yesterday and we saw growth there for ford. so it's up three, up about 4% and moving quickly here, but to the upside indeed. neil: okay, liz claman taking a look at what else is moving right now. >> well, just as we anticipated, the leader here is home depot,
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up $2.68 and you see a lot of green on the screen here for the dow jones industrials which is moving higher, see follow the lower band as well. what did we tell you, the home repair companies are going to be doing very, very well and then of course, it's, let's get right to travelers, that's the loser, heavy exposure in insurers and watch those as we told you just about 16 minutes ago, travelers is a big loser there, let's go back to the overall picture of the dow 30 you can see wal-mart is in the green, microsoft and caterpillar, a heavy mover here up a buck 32, just two weeks ago that this was a stock people were counting doubt. right now, it's one that is moving higher. i want to get right to the sectors here, neil. if we can look at some of these, we can see that it's the insurers overall let's take a quick look how the trade is happening, most are down, but you can see that lowe's and metlife and prudential, some have health care exposure and they're not as badly hit as some
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of the others. let me quickly go back to some of the others. now, we're looking at industrials and again, as you saw, we saw caterpillar looking much better and deere, two-thirds of a percent and not a bad move here, let's look at deere quickly and here is the the one year chart and it's moving higher, but if we look the at. let's do prior dates and see exactly what's happening before and then you start to see the move. let me go to some of the other quick sectors here that would obviously be affected and consumer staples, the one that you absolutely have to buy although i would argue you don't need the lipstick of estee lauder in a moment like this. neil: you never know. >> you never know of course, pepsico, reynolds american, a lot of green on the screen for some of the names and going quickly back and i wanted to quickly show you some of the other sectors, the nasdaq in green by the way, an important point to be made here, let's look at retail. a lot of people talking whether retail might be hammered because
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people can't get out and about. and the green on the screen, home depot, and lowe's up nearly 3% and let me just quickly get a picture hereof the intraday, because that's what we want to see here. and we can see that the intraday movement is not quite working out there. look at the fox 50. this gives you a better sense of the markets and the leader is home depot and the losers one of the travelers. neil: i've never been in the studio when you do this, but doesn't it look just like the jeopardy screen, you know i'll take insurance stocks for 50. >> exactly for 49. neil: you're amazing, absolutely amazing. good job. >> thank you. neil: robert gray at the nasdaq, what are we seeing over there, bobby? >> well, we've seen a lot of action, neil, early on here and i'm not sure in terms of the nasdaq composite itself. of course, the broad are measure here was down about 1/2 of 1% and now it's jumping up here, so we're taking a quick look here at what could be particularly
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happening. if you look at apple, and that's a big story over my left shoulder there, down about 2%, neil, it hasn't been below $600 in a couple of months now, and as i mentioned before the open, up $700 a share and unveiling the iphone five and looking ahead to the holidays and now they've had a couple of the high level executives ahead of the ios, the mobile operating system is leading the company the retail operation leading the company and a huge management shake-up and sold out of the ipad minis, he we don't know how many they made, neil, could have been 12, could have been million for all we know. we're standing by for information on that, apple shares continuing to fall. technology as we think about it, step back and say the market peaks after qe3 is announced. leading the profits disappointments and earnings cycle that we're focusing on closely here and the nasdaq has been down five of six weeks and we're keeping an eye on the big jumps. back to you. neil: thank you, robert gray.
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again, that could explaining the downdraft, apple is a dominant player and when that stock tanks, no surprise that the nasdaq would be underwater. 30 minutes into the trading day and the dow and s&p and to the upside. sandra smith at the cme, sandra? >> hey, neil, i'm actually in the s&p 500 futures pit. the largest by size on the trading floor and this has been closed for physical pit trading, the past two trading sessions and we just opened here at the same time as the new york stock exchange market in chicago and we had an 8:30 central time, 9:30 a.m. eastern time open, been open about seven minutes and really conflicting news that i'm getting from traders on the open here. right on the open, i was getting board there was sizable sell orders coming in, but then, things sort of turned around and we saw big action in the pit behind me and all of a sudden we hit session highs which i see. it's up 57 points and traders are saying after being closed
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for two straight days they're wary of the level of volume they're going to see today. it's been taken a while and they're worried about the customers in new york not taking calls or putting in calls to customers in new york and concerns, things like volume and volatility picking up and already as we're only just eight minutes, into this section here in new york and by the way, neil, in just about 12 minutes we will have the head of this exchange, as well as the nymex, order trade, and terry duffy will be on at 9:50 eastern, and 8: 8:50 central time and get the question why are things closed? and i'll hand to back to you. neil: you heard sandra and i can't stress it or repeat it. it's a logistical nightmare, cell phone service in and around this island, it's next to impossible. one out of 50 calls go through and trying to check on my family
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in new jersey and when i last checked my sons had tied my wife to the kitchen table. it was not going very, very well. it's hard just to communicate here and land line phones, a lottery we're told for existing phones and you might get your orders through, but it's not going to be like johnnie rocket. with the hurricane stuff going on here we can't forget about the presidential election, the candidates are walking a fine line and we're hearing the romney folks are upping the ante and indications that they have really put the pedal to the political metal here, and michigan, pennsylvania, might make a stop in ohio and when the president is going to be with chris christie, touring hurricane damage in new jersey and even though that's technically not considered a political stop or a political event it will have the benefits they're he in. and now according to the latest tracking poll from the rasmussen vote.
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mitt romney had a two point lead over president obama and this is a national tracking poll that high scho has nothing to do with the swing states. joining us is art laffer, a former presidential advisor to president ronald reagan how do you think it's affecting the race six days out. >> i don't think the storm affected the race at all. some of the the polls are a little off. and the democrats are very worried about the polling numbers not being quite correct and that the republicans are really doing a lot better than the polls would indicate. but you know the storm and all of that. i don't think it will have much effect on the election. neil: normally it does add, or briefly as you remind me, as the commander-in-chief and maybe just in time for the president. does it do enough to arrest romney's momentum or too little too late. people can distinguish between a storm and how we're doing
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economically? >> well, i don't think that either candidate made a huge gaffe in any way, shape or form, i think they handled themselves problemly and therefore, i don't think there's a huge problem coming out of the storm. we all knew it was coming and we all knew what was going to happen, it's a terrible storm and i don't think it benefits either party to be honest with you. i think the economic impact that you were talking about with charlie and by the way, i loved your interview with charlie, you guys really get along well. neil: we do, i love him, too, like the brother i never really wanted. [laughter] >> like the brother you could never-- >> and marry the cavutos, what do you say. and i think it's temporary and the real issue coming along in the economy, it's not the storm, but what takes place on january 1st, 2013. but that one looms huge and i don't see how we avoid that tax-mageddon and that will start coming to play a huge role in the economy and the stock markets and i'm terribly worried about that, much more so than i
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am about the storms' effects as charlie says the keynesian rebuilding. [laughter] take that dr. gasparino, i think. neil: all right, thank you, very very much. of course he was referring to the cataclysmic event on january 1st, and the bush tax cuts. and here is the board. if you have financials for 100, and what have we got, nicole? >> well, i'm here taking a look at win inner and the loser on the dow jones industrials. you know the winner is going to be home depot as we talk about hurricane sandy came in and the aftermath and the preparations and then the rebuilding. so, that's clear to be the winner here, and home depot the best performer on the nyse industrial. and on the down side we look at insurers and know they're the ones that come under the gun with this and travelers is the
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big loser, neil, on the dow jones industrials. and also i want today tell you quickly the big board, the electronic big boards are black right now. i cannot look up and see where the dow is trading because the data providers don't necessarily see the correct numbers and just talked to mike from the new york stock exchange and he said they're trying to reboot it, work it, but right now these traders cannot look up at the big board and get a feel of the market, back to you. neil: all right, nicole, thank you very much. real, real quick take from charlie gasparino. >> you look at the wires right now, what you see is duncan niederauer and throwing in the towel and admittinadmitting and conceding, they needed better storm planning. neil:en and like a dog with a bone you won't let go of that. >> as he says, the market shouldn't be shut down for two days. neil: and without--
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>> and art laffer-- >> when we come back, a big jobs report that's coming out on friday come hell or high water. remember, there was talk about could be a delay. what about the jobs report we do get out is based on such and go data? in other words, didn't assembly all the parts they needed to, that could be a bump up report or bumped down report. then what? [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you kw. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade.
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>> all right. wednesday is hump day and for the markets, it's a crucial day, trading resumed as we looked at our board of the-- the key dow stocks that are moving right now and the dow is about 60 points and i think, man, this does look like the jeopardy board, but if you're playing just any issue at that advance after a storm for 100, pretty much most of them are. and we'll get to the details of that in a second. right now nyse chairman and ceo
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duncan niederauer is on the floor of the big board with our nicole petallides, how are things looking there. >> we're here with duncan niederauer and happy to have you on the fox business network and i see you talking with the traders to say that everything is going smoothly. give us the news, you've been working to get the smooth opening. >> everything has been opening quickly and a smooth opening, we're pretty much fully staffed down here and so everything went really, really smoothly and volume seems to be pretty good. markets up 1/2 a%, so far so good. >> have you heard of any problem so far with the open. >> the problems were before the opening, connecttivity. with blackberries and phone service, we spent most of the morning to try to solve that and i think we did. in terms of people outside of the building, their connecttivity has been tested literally for the last 24 to 36 hours and that's working smoothly. over 100 million shares already and we're moving along. >> i heard were you freaking out
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some the traders, bbokers not those that handle the stocks themselves no consumer confidence issue, but more someone used the term they're freaking out upstairs and realize now that most of these guys are not getting internet service not getting cell phone service and don't have land lines to get orders in the building and the only way through the nyse pipeline. >> okay, hopefully there was a question in there somewhere. >> yes. >> and so, first of all, i don't freak out about anything, so, i don't really worry about that stuff. and let's separate fact from fiction because there's been a lot of fiction going on the last couple of days. so, the overwhelming majority of our orders come from outside of the building into the mawa date a center and we're not on generator, we're on full power, the power never went down. in terms of internet connecttivity no impact to them at all so the market making systems, we control those and they control those and that's been fine and very smart part of the orders from inside of the building we had issues with
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phone connecttivity and internet service this morning, we gave them their own phone lines so they could make, get incoming calls and get outgoing calls and latest i'm hearing no one was freaking out, don't worry. >> ten seconds left. quick question, monday and tuesday could have opened this exchange? >> we could have, i think it would have been irresponsible in the light of what we know. we certainly could have operated electronically, and what the industry clearly told us on sunday was, please don't open electronically because we're going to put a lot of our people in harm's way. do i wish the industry and we came to a decision earlier on sunday? sure, but we all made the the right decision and would have been irresponsible and dangerous to be open monday and tuesday, why, trading wouldn't have been good or people would have-- >> i think more about human safety first and foremost, i don't think the market would have operated fluidly, but that's near here nor there. guys, even if you think you're running from chicago we still have to send people to work in the metropolitan new york area
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and don't want to do that, please don't make us do that, i think the industry made the right decision, we're here today and will be here tomorrow and friday and should have the building back on regular power, even if we don't, the generator is fine. >> congratulations to you and the team and we thank you, back to you, neil. neil: okay. a little con sending there, duncan niederauer. and charlie. >> would he, the operative question, do you have a plan and he would have said no, to prevent this in the future. the question is not to put-- >> who called that shot? >> well, it's hard to say. the brokers said based on what we have right now we should not be putting our people in harm's way. we don't believe that archipelago-- >> who is thes boss and said we're the not going to trade. >> duncan. >> the question, they didn't have to put them in harm's way if they had a plan and what people have to ask duncan niederauer, what's the plan going forward so we're not shut down for two days during a storm. that's the question that needs
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to be aendz. neil: and duncan talking about staying in connect with other exchange and sandra smith at cme with terry duffy, chairman of the cme group. >> hey, neil, let's get right to terry duffy and thank you for joining us on a crazy morning. your thoughts so far on the open this morning as you stand in respondent of the s&p 500 futures pit closed the past two days? >> i think it's been really orderly for the most part. actually the market opened up better now and trading higher on the day and i think that some people are worried about pentup demand on the sell side and we didn't see that and we're seeing business as usual right now. >> how do you answer the question a lot of folks are asking, was it necessary. was a close down of the new york stock exchange and some trading pits here in chicago and electronic markets, was it necessary? >> welling, we were open on our overnight sessions as you know, but not open during the day. i think why it was necessary because of the catastrophic event that we saw in new york, this is not something we see every day. so, when you cannot put human life ahead of the markets. and i think that's what's most important here and people did
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not have access to get to the marketplace in order to trade even he electronically. even if you can trade automated you still need people to man the systems. >> and you don't have to look far in the newspaper to saying people are losing faith in the electronic systems because the exchange felt it needed to shut down. is there any reason that could be true? >> there is no truth to that. we felt we did what was right thing in the industry to be sure the participants could trade the markets and we didn't have a dislocation, people didn't have access to the technology platforms. >> as we look at one year anniversary of mf global, do you believe that markets today are safer than they were a year ago or even more than that? >> i truly do, sandra, the markets are definitely safer today and we've i mplemented several now places and i'm covet the markets are much safer than
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before. >> terry duffy has an industry association going on. and i know you want to say hi to neil. >> like to say hi to neil and also liz and charlie. >> they all say hello. neil: you heard him, back to business, it's the right thing to do, charlie. >> it's the right thing to do given the fact they had no plan. that's what i would say. where is the plan and where is it going forward we don't have to shut down capitalism-- >> it does raise the question for the next storm and event. >> you make a plan and take it over to the mawa in new jersey and that trading floor. i give prompts to the cme, the trading floor, of course it's in chicago and they're getting it going and-- >> defer it whom ever made that decision who ultimately made, could it have been shapiro or-- you know, got to cut and run? >> the brokers when i say not the floor brokers, but the big
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brokers, they felt they couldn't deal. >> what do you think was sacrificed as a result? >> the fact is less confidence in our market. >> and people's ability to trade over the past two days, people want to sell apple or buy apple. >> you can trade in other exchanges. prominent stocks abroad. >> those people trying to buy disney on the news that lucas film wanted to-- >> you're in kahoot? >> there's more than one stock market, there are many markets. >> guys, thank you very much. we'll continue live coverage of what is moving on the corner of wall and broad today after a big storm and so far, around 30 minutes into the trading day, all going well. so far. much more on fbn. [ male announcer ] this is the age of knowing what you're made of.
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tdd#: 1-800-345-2550 and trade in my global account commission-free tdd#: 1-800-345-2550 through march 20. tdd#: 1-800-345-2550 best part... no jet lag. tdd#: 1-800-345-2550 call 1-866-294-5409 tdd#: 1-800-345-2550 and a global specialist tdd#: 1-800-345-2550 will help you get started today. charles: good morning. varney & company viewers. today is october 31st. it is halloween and after two days of being shut down the markets, they are back in business as well. the new york stock exchange opening today after lower manhattan was slammed by hurricane sandy after the two-day shutdown, the dow is up right now. traders are returning to work. even as most of lower manhattan remains without power. but it's not just wall street that's struggling to get back to business. millions on the east coast remain without electricity as utility crews scramble to
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restore power. in fact jersey shores, devastated, the entire communities wiped out by sandy's storm surge on monday night. this afternoon, president obama and governor chris christie will visit that area to survey the damage. speaking of the president, well, we're just six days away from the election. mitt romney may be losing some momentum as president obama responds to sandy's destruction. and of course we're just two days away from october's critical unemployment number. varney & company starts right now. okay. so right now you're looking at the board here. these are the dow 30 stocks as neil cavuto called it the jeopardy board. and home depot as you might imagine at the top doing the best so far. insurance companies under a a little bit of pressure, not necessarily a lot, but the markets opened slightly to the upside. we are back in business here on fox business. the stock market is open. by the way, stuart is off today in previously scheduled assignment. but i have a great company for you today. elizabeth macdonald is back and
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former clinton advisor doug schoen is also here. nicole petallides back on the floor of the new york stock exchange. happy to see you down there nicole. we're going to start with you. home depot obviously leading the way. other than the storm, anything else going on with it? nicole: let's take a look at home depot. home depot and lowe's been doing very well today. home depot has been the leader on the dow jones industrials. obviously everybody is going into the stores, home depot and lowe's have noted that people have needed clean up items, items like trash bags, chainsaws, to name a few. the companies noting they are sending out hundreds of truckloads of storm recovery inventory to areas along the eastern seaboard that need these items. so we knew it. we would have guessed it. but now it is a fact. home depot certainly a leader on the dow jones industrials. charles? charles: how does it feel to be back down on the floor? nicole: i am excited to be here. i have been waiting to get back to work here. a lot of traders don't have
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internet or cell service or data so they can't trade as well as they would like to, some of the brokers, but the fact of the matter is that the dmms, designated market makers, specialists, have opened everything smoothly. haven't heard any problems of actual trading of stocks today. so far smooth opening. charles: we are happy to have you down there. big story of the week, hurricane sandy, jeff flock continues to keep an eye on the damage at point pleasant beach in new jersey. you 'done a remarkable job -- you have done a remarkable job on a remarkable story. what's going on now? jeff: look at this, this is the board walk. i can actually pick it up. pieces of it have buckled up. i'm surrounded by debris from the storm. they tried to sandbag it. you see what happened to the sandbags. take a look, this is where they are, strewn every which way. this is what it did. the storm obviously with the surge driving this right in here. this is not just here. as you know, the board walk in
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atlantic city is said to be gone. in seaside, not only the board walk, but the great amusement park. i grew up going to that amusement park that goes out into the atlantic. the roller coaster ride that i rode on that for so many years, the comet, that's apparently tipped over into the ocean. this is the roof of what was a bar. it was out there on the point. it is now up here on the board walk and not in a good fashion. just a lot of destruction. that the president is going to see later today when he comes to visit. charles? charles: jeff flock, thank you very much. millions of people on the east coast without power. entire communities have been destroyed. and the election is just six days away. will people be able to get out and vote? that's a real question. doug, you know, as someone who has helped campaign, been involved in a lot of campaigns. have you seen anything like this before? >> it is unprecedented, charles. i do think by next tuesday, virtually everyone who wants to
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vote will vote. to me the real question is, what the impact of the storm will be on those that do actually vote? will it help president obama? liz: isn't it true though in past elections and charles you have pointed this out too, that the democrats benefit more from the early get out the vote campaign, because president obama has a really aggressive grassroots, boots on the ground campaign. will that get out the vote campaign be hurt by hurricane sandy? will it affect the democrat turnout for the president? >> all the early polling, liz, is confirming what you are saying, which is the early vote is going to the president. i think it will slow that down now. the question is, can the president get those people back on election day? but bottom line, i think even more important, the image of leadership that the president is projecting with chris christie helps him in the waning days. charles: really? >> oh absolutely. charles: really? i mean almost all political pundits is good listen as long as the guy doesn't trip, you
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know, fall. this is one of these things where, you know, it is a good thing. it looks good, but, you know, will it sway an independent voter right now? will this be the last thing like of all the things we have heard from the economy to benghazi, will he really look great standing next to christie? >> i think that looks a lot better than questions about benghazi. the president is happy to change the subject. charles: absolutely. president obama is set to survey sandy's destruction in new jersey today with governor chris christie. obama is looking more and more presidential as this crisis unfolds. even christie, an outspoken republican is giving the president praise. take a listen. >> at 2:00 a.m. i got a call from fema to answer a couple of file questions and then -- final questions and then he signed the declaration this morning. the president has been on the the phone with me three times
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the last 24 hours. he's been very attentive and anything i have asked for, he has gotten to me. i thank the president publicly for that. he has done as far as i'm concerned a great job for new jersey. charles: coming up mike reagan's response to chris christie and his praise of the president. that's at 10:30. let's get back to the markets. sandra smith is at the cme in chicago. is everything back to normal? sandra: oh my gosh, charles, where are you? we're up above the stairs here. can you see me yet? larry? larry? all right. what we're doing right now is we just got done talking to terry duffy the executive chairman of the the exchange and he's saying the exchange so far has had a smooth open. s&p 500 futures, dow, nasdaq futures have all opened for the first time in three trading sessions. all opened up to the upside. as far as what traders had been seeing, they were expecting big sell orders on the open.
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that was sort of the whisper ahead of the open this morning. we didn't exactly get that. in fact, we got a lot of buy orders. traders are still talking about light volume as things open up. a lot of phone calls still, hard to put into the new york area, etc. but trading is going back to as usual on the trading floor here. terry duffy saying he has full confidence in the decision that was made to shut down the exchanges the past couple of days. that was the exchanges working together. he believes it was the right thing to do. and trading is getting back to normal on the floor. stock index futures are up, and by the way, most commodities are up today as well. the entire energy complex, everything from crude, natural gas, rbob gasoline, all up, precious metals, gold, silver, everything trading to the upside as we do have a little bit of a weaker dollar scenario. traders saying it is back to the fundamentals and it is back to looking forward to the big jobs report on friday. charles? charles: all right, you know, listen i was impressed when you ran down the steps yesterday. today you're kind of pushing it. you're bragging a little bit.
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get your breath back. sandra: i know i'm sorry. charles: thank you. now to robert gray at the nasdaq. apple is below 600 bucks. robert? robert: i need to lean in a little bit charles. you and i have been watching the stock, and apple of course a lot of people have been watching it through the bull market. apple shares have really been hammered over the past month since the announcement of iphone 5. it was trading above 700 bucks a share, now you're seeing it back below 600 bucks. it did touch below there on friday, but closed above it at about 603 bucks and change. you see it down 2%. keep an eye on 586 bucks and change, that's where the 200 day moving average is. that's where a lot of analysts use their chart in making investment decisions. keep an eye on that -- keep an eye on that. also take a look at facebook. 229 million shares coming unlocked from the initial public offering. today was the first day they
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were able to be sold by insiders, company insiders who were able to sell some of the shares from the ipo. generally you will see these shares coming out. it could dilute the value of the existing shares which are already out there since there are more of them, greater quantity there. keep in mind, it is down some 42% from the ipo strike price. you are seeing shares moving lower, down about 21%. obviously charles facebook a lot of people like to follow it, but apple has an outsize weighting in terms of the nasdaq particularly the nasdaq 100 which the qqqs track. back to you. charles: between friday and today, a couple of people left apple, couple of big-time executives. this's a major -- there's a major shake up there. it is spooking a lot of investors. robert: it is. that big shake up on top of the big slide we have seen, a lot of pressure on the stock. charles: robert gray thank you very much. joining the company now from
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houston is ed butowski. when that number flashes on friday, what are we going to see? >> out of here in washington we hear the fog of war. right now we have the fog of government numbers. nobody really has any idea what these numbers are going to look like. it's hard to really read into this, but when those numbers come out, i don't think it is going to move the election one way or another. i think unemployment will tick up a little bit because i think the number -- there was so much weird stuff, i'm going to call it weird stuff -- in the last jobs numbers that i think a lot of that will go away. when you have 600,000 people that are counted as employed when they are part time workers or volunteers, that ticked that number down, i don't think you will see that replicated in this number. charles: you're being kind today, weird was a nice word. if the number is well over 8%, do you think there's a chance -- let's just say hypothetically,
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8.2, 8.3 percent, you don't think that number could have a small influence on the election, sort of mitigate the small influence president obama visiting new jersey might have. >> anybody who is undecided right now, i don't know how they will make up their minds. we have had so much politicking going around for the last year really. i don't know who is undecided f. that number ticks up, what you will see is the headline is going to say we have unemployment rising. that's going to be a negative. see unemployment remaining the same, i don't think -- i don't think that sways anybody. if that number drops 2 percentage points, i'm going to say the same thing, let's investigate it. there's a lot of weird stuff going on in the fog of government numbers. liz: the more important number is 146,000 average jobs created even the bureau of labor statistics said look that number we put out is revised constantly. it is only 90% accurate. this jobs number may not pick a president because it will get
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revised. isn't that the story line? >> that is a big part of the story line, elizabeth. i will also say remember, employers said there was 114,000 jobs created. then you had all this other household survey -- here's the take away -- charles: hold on one second, ed because we're running out of time. 114,000 was still 50% less than a year ago and nowhere we need to be. we can all agree on that. we have to go. see you soon. listen, president obama, he continues to double down on green energy. he says it is all about investing this our future. a quarter of a billion dollars just for 408 jobs? think about that, quarter of a billion, 408. the judge is next.
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charles: the markets are open for business this morning. the new york stock exchange closed for two days in a row. that was the first time that happened for weather reasons for more than 100 years. but there's a lot of action on the floor. home depot, lowe's, black and decker, all up much better. these companies could surely benefit from the massive rebuilding efforts that is going to come. let's take a look at this company that makes generators. everyone on the east coast wishes they had one now and probably will buy one before the next storm. insurance companies are down. they will take some big hits over this. we will see how much. it's obviously all related the storm. still millions of people up and
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down the east coast without power. and many places the trees need to be cleared before the crews can even come in to fix the power. we are coming back in 90 seconds with the judge and another government-backed green energy failure. billions of dollars -- billions of dollars and very few jobs to show for it.
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charles: tough news from a big name that you know. panasonic said it would lose almost 10 billion dollars as it gets rid of its risky assets in the latest round of
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restructuring. it is headed for the fourth net loss in just five years. president obama he continues to double down on green energy, but the companies continue to go broke. now here's the latest example. battery maker a-123 got a quarter billion dollars from the government. this company said hey we're going to create thousands of jobs. exactly how many did it create? try 408. all rise, judge andrew napolitano is here. judge, you know what? i said this is actually impressive compared to some of the other ones, and that's not even a joke. but i mean seriously this is heart breaking stuff. >> well, it's heart breaking because it violates basic principles of supply and demand and risk and reward. when the government gives you cash, you almost don't care what happens to it because the government is not a customer. it is going to give you the cash whether you use it properly or not. charles: particularly, if you also know more cash is coming. >> right, right, but if you are in the real marketplace where you have to get money for real
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investors like you do for your clients, you are going to monitor how every penny is spent. stated differently, the government has no business putting its thumb in the scale and choosing winners and losers in the marketplace. we have been through this odd infinitum. it simply doesn't work. it does create cash flow. it does create the movement of cash for people close to the event. but no investor would invest the type of -- would invest his or her own money and get the meager return that the government got. only the government would be happy with that kind of return. >> the thing that startles me about the campaign is i think your argument is a fair and reasonable one, yet it is one that governor romney and his team have not made. charles: they referred to the 90 billion and talked about the 2 million school jobs -- when he mentioned that in the debate, i they it was a double if you are scoring in the baseball game. >> right, but you are the only person in america who remembers it. >> you are one of the few people in america that understands better than the rest of us what goes through politician's minds.
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why didn't governor romney talk about benghazi? liz: a toyota or a nissan could have taken over gm and still preserved those jobs in this country instead of the government stepping in, same story with the battery maker, no. charles: let's kind of stick to this whole thing. if the president wins, he has talked about doubling down. initially doug and judge they talked about this as spending and then changed it to investing, understanding what you and i are talking about. >> the government actually claims it has an investment if this company? charles: the president says we're investing this our energy future. that's the line. we have all heard it so much that we can all kind of regurgitate it. >> that should drive your colleagues downtown crazy, why government gives away taxpayer cash or money it's borrowed from china and gives that way. charles: it should drive all americans crazy. but here's the thing, though.
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they continue to do it. they continue to say we're going to do this. it was an investment just like the internet was an investment just like the space program was an investment. >> do you think romney in the back of his mind would do the same thing? >> i don't know if he would do the same thing, but it startles me that he has been unable to make a case against the investment in green energy and right now the car companies are attacking governor romney in ohio for his advertising. >> for claiming they are shipping their jobs to china. the case is easy to make, and it is simply this, if i may, no prudent rational investor could cough up the type of cash that the government coughed up and given it to the entities which the government has given it, with the level of control, which is none, that the government exercises. -- exercises. liz: they say the government has to spend money to create money. isn't that what this is? >> all they have to do is call ben bernanke. he will create any money they
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want. charles: i think all of us agree, we're all startled this should have been a much bigger issue, the money spent, where it went to, who got it, all of that to me shocks me this is not on the tip of everyone's tongue right now. judge thanks a lot. >> pleasure. charles: mitt romney is focusing on swing states where the president happens to be winning. why? does this mean he's confident or desperate? we will let you know. congresswoman marsha blackburn also joins us right after the break. follow the wings. i'm a conservative investor.
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>> i think both handled themselves appropriately. and so therefore i don't think there's a huge problem coming out of this storm. we all knew it was coming. we all knew what was going to happen. it is a terrible storm. but i don't think it really benefits either party to be honest with you. charles: that was in our last hour on the impact of hurricane sandy could have on the election. be sure you tune into varney & company every weekday morning. we begin at 9:20 sharp. back to the markets right now open for the first time this week. nicole, we have to start with general motors a big earnings report this morning. nicole: great news from general motors. we are seeing the stock here, been gaining momentum, up almost 7% right now. came out with quarterly numbers. revenue rose 37.6 billion. -pwe have seen them on the rise.
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good news there for gm. charles: ford released theirs yesterday, they had good news too. nicole: it's up about 5 1/2% for ford so that too is a winner. they were one of the companies that actually decided to go ahead with their earnings report despite the market being closed. about 30 companies pushed back their earnings reports. charles: nicole petallides, thanks a lot. we haveless than one week to go before the election and governor romney's momentum seems to be slowing. the latest rasmussen presidential poll shows romney has 49% and president obama 47%. governor romney is now making a last-ditch effort for votes in some traditionally new-leaning states, minnesota, michigan and pennsylvania. could this be mitt romney's last push to win on tuesday? joining us now is representative marsha blackburn. congresswoman blackburn, some curious things going on over the last 24 hours. you see where obama camp poured
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money into michigan. you see where romney is headed, pennsylvania. i thought these states were settled. are they still up for grabs? >> yes, they are definitely up for grabs. charles what is happening is these were supposed to be safe seats and safe states for obama, but what has happened is people have watched mitt romney, and they see a consistency of leadership and a very steady approach. they are -- those undecideds are are breaking for mitt romney. so all of a sudden, michigan, pennsylvania, iowa, minnesota, you're looking at states that i think you are going to see mitt romney with a great opportunity to win these states. charles: representative blackburn, you know, there's no doubt the first debate, you know, changed everything for mitt romney. it feels, though, that maybe the second and thirds were lost opportunities, certainly that amazing momentum that he had. you can't argue that it hasn't stalled, which brings us to this
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toss-up scenario. is there any sort of anxiety out there among your party that golly, you know, just maybe one thing could have been different, this would be a no-brainer right now? >> you know, i'm not so sure that saying it has stalled is the right word, charles. i think what's happened, mainstream media, all the attention has gone to the storm. but what is happening on the ground in these states is volunteers are going door-to-door, working from the bottom up, the grassroots up, hammering out this victory. it is really the network of you, individuals and their friends that are bringing this victory home for mitt romney and they are doing it one person, one door, one visit at a time. and so the momentum is not really a shift, if you will, as far as from one candidate to another. i think it is a shift from being
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at the retail, you know, kind of the wholesale level back to the retail levvl with person-to-person contact and bringing that high touch to the campaign and bringing the victory home. that way with the undecided and female voters. >> marsha, this is doug schoen. quick question with quinnipiac out today showing a 5 point lead for president obama in iowa and ohio. and with the president demonstrating bipartisanship with chris christie in new jersey, isn't this is a set of unexpectedly bad developments for the romney campaign? >> doug, i don't think it is. and i think there again people have looked at mitt romney and they see a consistency of approach. i think that what they have seen in president obama is kind of an inconsistency of approach. you've got failed policies. you've got failed responses.
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you've got questions about benghazi. and i give the president credit for focusing in on the storm. certainly those of us in middle tennessee that endured the thousand year flood a couple of years ago here, understand the importance and have great empathy with those that are suffering through this storm. we've been there and we know what this is like. so i give the president credit for his focus. but i don't think that individuals that are looking at what they want for the next four years are seeing this as a deciding element. i do think from what we're hearing from those that are going door-to-door, they are looking for consistency of leadership, and they see that in mitt romney. charles: i tell you what, though, no doubt about it, this one is one for the ages. representative blackburn, thank you very much, we appreciate it. >> good to be with you, thank you. charles: always. president obama will travel to new jersey today to survey the
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damage from hurricane sandy. the president's response is getting even praise from republicans as you just heard. we're going to get mike reagan's reaction to all of this after the break. >> so i have to give the president great credit. he has been on the phone with me three times in the last 24 hours. he has been very attentive and anything i have asked for he's gotten to me. i thank the president publicly for that.
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charles: back to the markets. joining the company from chicago is scott shellady. scott, is everything back to normal for you? >> well, almost back to normal. we have end of month today. we have the non-farm jobs report on friday. there's still a little trepidation in the market but i think we're all happy to be back doing what we're paid to do. charles: we're happy to see you in your famous cow jacket. before we let you go, what are you expecting for the jobs numbers? >> i think the jobs numbers will come out mildly disappointing. things have been getting a tad better. going into this last one before the election, we have expectations around 125 and 7.9, i think we could come in underneath the 125 and just over 7.9. but i don't think anything will be earth shattering. charles: won't move the market and won't move the needle on the
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election? >> no. charles: thanks a lot and -- and congratulations being back to work. kind words for the president on his handling of the hurricane sandy. take a listen to this. >> at 2:00 a.m. i got a call from fema and ae he signed the declaration this morning. he's been on the phone three times in the last 24 hours. he's been very attentive in anything i asked for, he's g got -- he's gotten to me. i thank the president. charles: joining us now is mike reagan. obama looks presidential right now. that could hurt romney. >> he's supposed to look presidential right now. i mean, the storm that hit the east coast was horrific. you look at what's going on in queens and all that, he's doing what he's supposed to do as president of the united states. i'm sure there are people today who are saying gee i wish he would have acted presidential when our ambassador was killed
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and three others were killed in benghazi a few weeks ago which he didn't. but he is doing what he should be doing as president of the united states of america. will it help him? it might help him to an extent, but i think most people will see this as well you are doing what you are supposed to do so that's not going above and beyond the call of duty, and i think that mitt romney is doing a great job. charles: speaking of above and beyond, though, do you think chris christie has gone above and beyond the kind of lavish praise that he had to give to the president? by the way, you know, mayor bloomberg in new york city said no to the president with respect to coming in there for a visit. chris christie's all open to the idea. >> yeah, well, chris christie, i mean, look at -- of course what happened in new jersey is horrific as in new york. but chris christie is chris christie. he says it the way he feels it and what have you. i think most people actually see chris christie for what exactly he is doing. he's got the president coming in. they are going to spend the day
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with him. he's going to praise the president of the united states. why? because the president is going to write the check that's going to take care of new jersey. so of course he's going to praise him. bloomberg can write his own check. i just hope nobody is drinking 16 ounce cokes when it is happening. charles: at this point, believe me, the hotel i'm in, i will drink whatever they have got left pretty soon. later on, though, think about this for a moment. we could actually have an image later in the day, i don't know, i'm not sure what romney is doing, but i think he's back on the campaign trail. you have the split screen. on one side you have the president assessing damage with a republican governor reaching across the aisle. on the other hand you have mitt romney campaigning. which one seems unseenly and which one seems presidential? >> at the point that the president is acting president l presidential, you don't think he's campaigning? he's never stopped campaigning. he's reaching across the aisle. that's because the governor of new jersey is a republican. so that's not reaching across the aisle. that's doing what he's supposed to do.
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mitt romney yesterday having that event where he asked people to bring canned goods to in fact help take care of those people who are in dire need of help. i'm sure he's going to do the same thing probably today. but you can't just stop the campaign if you're mitt romney. there's an election on tuesday. but you can tone it down to make it right. don't go over the top, but stay within the bounds so people aren't going to be angry with you for using this event for your own good. it's just a matter of toning it the right way. charles: one thing i think romney has done is he's been real cautious with respect to tone. mike reagan, thank you very much. we will talk to you real soon. >> you got it. charles: how is this for a number for you? 20 billion? that's how much sandy will cost -- well, it actually could be more than that, but even at that, that would cut half a percentage off the gdp. after the break, the latest assessment from the damage from this superstorm. 0t[h7 bob...
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oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad
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we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. charles: the markets are back to work today. the dow with a slight gain right now, but the nasdaq is lower. mostly because of apple on track for its first close below $600 a share in three months. this is because the markets are are having their first chance to react to news that the software chief who reportedly refused to sign a letter taking responsibility for the problems with apple's maps.
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he will leave the company next year. disney is slightly lower today because they made a big purchase. it is spending 4 billion dollars to buy lucas films. some are angry because that means there will be a whole lot more episodes on 8, 7, 9 and none of the new ones have been good. a coming up in 90 seconds. the latest on global warming hysteria. not only the father of the internet. the father of that hysteria. with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days, plus get up to $600 when you open an account. are we there yet?
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charles: want to go back to nicole because traders can't find internet access. nicole? nicole: we have talked about this fact throughout the morning. some traders are still not able to have internet access, most of us don't have cell service at all, and land lines are also difficult to find around here. trading, you know, don't worry, your pfizer and your ford are all trading just fine. it is more about the competitive edge here on wall street. traders -- some of the traders i have spoken with are actually now trying to call hotels in midtown in order to leave the new york stock exchange and go get internet access. right? so it seems like -- it's a traders' problem. it is not really a person at home problem, but a trader who is trying to trade and make some money and can't execute these orders. there's buy side and sell side. if i'm a trader here and i would get an order from a hedge fund manager, order management systems, i can't do that because i don't have my internet so i can't make any money.
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i can't compete against goldman or those other places so you do have some of these guys now struggling to find internet access in order to execute some orders. charles: we knew it would be bumpy but at least they are open and keeping moving forward. thanks nicole. now i want to get to jeff flock who is at point pleasant beach in new jersey. keeping an eye on the damage caused by sandy on that shore. jeff? jeff: charles, we are moving to a location that gives you a look at what is a a massive earth-moving operation. i see trucks of the characteristic orange yellow trucks, the ocean county road department, moving this debris. i would tell you, my first job as a kid, back along the jersey shore was digging ditches for the ocean county road department, i rode around in those trucks back in the day. you see all the trucks lined up trying to scoop up the sand they have deposited into the streets of point pleasant beach and trying to take it back to the beach. we will finish up with this shot over here, charles.
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jimmy if you come back around to the right here, you may see that the water is not even gone. in that low area, that is just off the beach, charles, you see still plenty of floodwater out there. so the water isn't even out of here yet. they can't even begin to clear that. a long, long road ahead along the jersey shore. charles: absolutely. jeff, thanks a lot. long road indeed. we want to check out brand new video just brought into us. take a look here, you can see a man being rescued by the new york police department after superstorm sandy hits. the man was lying on his roof when an officer in a basket was lowered to the roof and pulled him up. you can see that it's just absolutely amazing. of course a lot of this kind of stuff going on. now, one forecast firm is predicting that superstorm sandy could cost 20 billion dollars in property damage in the united states. joining us now, the president of forensic weather consultant. howard, this is obviously just the beginning, isn't it? >> this is just the beginning.
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you know, i know for a fact from talking to some friends of mine, that searchs and rescues are still -- that searches and rescues are still underway, making sure there are no victims left in the houses. we have a lot of emergency personnel there. then we can start to pick up the pieces. storm surge is only about 1 to 3 feet. it's still in the homes right now in parts of suffolk county and we have until about 12:00 noon today before high tide starts to go out. that's the good news. that's when the weather will start receding and some of these homes could be pumped out but not before the damage is done. charles: real quick, 20 billion to me sounds low, we're talking east coast, the stocks exchange closed, manhattan, where do you think this number can go? >> i think it will be higher than 20 billion dollars. i think the earlier estimates of maybe twice as much, 40 billion they have to inspect 600 miles of subway rail line, and business will remain closed through the end of the week. power will be out until next
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week which will affect the businesses. huge hit for the economy. charles: absolutely. you know, new york city shut down for a week, huge hit, all along the east coast. howard thanks a lot. hurricane sandy levelling the east coast leaving the jersey shore in particular just devastated. that was monday. on tuesday, al gore blamed the strength of the storm on, quote, the climate crisis and global warming pollution. guys, what do you think? liz: i will tell you something, wall streeters basically this their analysis are basically saying, global warming, goldman sachs i have seen that research, wells fargo i have seen that, even the insurance industry is talking about global warming as well, weather events have picked up since 80. >> my question is how firm or how convincing is the science, charles? i haven't been convinced. charles: yeah, i know. what wiped out the dinosaurs? okay. the truly heroic effort of new york city, the doctors and nurses, evacuating the city's hospitals. we have dr. marc siegel. this is a story you have to hear.
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charles: superstorm sandy knocked out power in new york university medical center forcing rescuers and staff to evacuate 300 patients including 20 babies. the youngest and sickest were e vac wait -- evacuated first after the back up generator failed. joining us now is dr. marc
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siegel. doctor, first of all, this is your hospital; right? i mean this is the hospital you're associated with. >> absolutely. charles: the big question is how does any hospital recover from something like this because this is not supposed to happen. >> charles, i spoke to andy, who is my boss actually, he talked about how it happened. they had a command central in the lobby. the surge wall was up to 13 feet which was more anticipated. they discharged about 250 points before the storm and they closed the emergency room in anticipation of a problem but not to this extent. when the power went down and the generators got flooded, they lost all power. took close to 300 patients out in a heroic effort over the night. they literally put ramps down the stairs and they slid them down the stairs. they had battery operated respirators for most of the patients, but for the babies, you mentioned the babies, there were 20, 4 of them they literally had to bag air into
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their lungs. >> manually bagging air into their lungs? >> absolutely. in a day of electronic medical records, there were no records. they had doctors volunteering to take the patients to the receiving hospitals. st. luke's, mt. sinai, cornell, they received surgical patients several of them and they went along with doctors that volunteered to continue working in the transition. talk about exchange of medical information. no records. no paper charts. that's the down side of electronic -- liz: there's a dispute about whether or not the hospitals got an order from the city to evacuate. did you hear about that dispute? what did the hospitals receive an order to evacuate as they did before hurricane irene? >> no, i have seen all the e-mails on this. they didn't receive an order before to evacuate the hospital. however, they made a very wise decision to evacuate the hospital when they lost power. and i think the key here is that they did it without anyone dying. charles: right. that's -- >> charles, as you said, can they anticipate something like
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this? the problem here is the generators are in the basement. that may not be the best place for all the generators. charles: again, listen, we're monday morning quarterbacking here. someone should have said hey maybe one generator should be above where any flooding can happen, but how do you think the hospital recovers from this? i mean this is certainly a public relations fiasco. >> well, not only a public relations problem, although it depends on what the focus is. maybe it is going to be on how heroic they were, but also they have no patients now. they don't have any intermet. they don't have any phones. -- they don't have any internet or phones. they don't know when power is going to come back. i doubt they will get the patients back. that's a huge financial problem for a hospital that's been doing quite well. charles: i think we should note, the line of ambulances out there, the way the doctors reacted, when it failed, everyone did spring into action. we have to leave it there. >> police department, fire department. charles: everyone thanks a lot. >> good to see you charles. charles: highlight reel is next.
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world. mitt romney may be losing several minutes as president obama response to sandy and disruption. >> this is the boardwalk or what was the boardwalk. charles: will people be able to get out and vote? >> i do think by next tuesday virtually everyone who wants to vote will vote. >> just a lot of destruction the president is going to see later today. >> will be get out the vote campaign be hurt by hurricane sandy? >> the image of leadership the president is projecting with chris christie helps him inestimable in the waning days. charles: i got to think elizabeth macdonald and doug shoen for not gloating too much. i can feel the blow and confidence and i'm confident because we're standing it to dagen mcdowell and connell mcshane. dagen: dagen mcdowell. connell: connell mcshane. stock trading for the first time this week. the northeast beginning to pick up after hurricane